Trust Wallet Enables New Streamlined Way of Buying Crypto with a Bank-Issued Credit Card via Simplex
If you have been waiting for a convenient method of purchasing cryptocurrency, then you will be pleased to know that Trust Wallet has announced a new partnership with Simplex whose objective is to make it easy-peasy for one to purchase digital tokens with their credit card.
According to the founder behind this invention, allowing people to purchase crypto using standard-issued credit cards or via mainstream bank accounts is often the first step for mass crypto adoption. Victor Radchenko – the founder – believes that just by launching this venture alone, they are more than a step closer to achieving that lofty goal.
— Trust.eth – Crypto Wallet (@TrustWalletApp) March 13, 2019
This new development, according to preliminary reports, will enable early adopters to easily buy Litecoin, Bitcoin Cash, Ethereum and XRP through the centrally-placed Trust Wallet. Buying cryptocurrency will be as easy as tapping on the Buy funds button and entering the exact value tokens that you need.
What About Simplex?
Unlike what happens in convention exchanges, the digital token amount quoted is often based on the prevailing rate and often it is not final.
This implies that if the rate changes by more than 2.5%, you will be prompted to confirm your transaction statement through an email address sent from Simplex. In other words, once the transaction is complete, it is possible to check the payment status through Simplex.
Speaking of which, the Simplex payment batch processing algorithm is often subject to the respective local bank policies.
This means, for example, that some issuer financial institutions could decline charges or purchases based on their own policy terms and conditions. And this is regardless of the residence/nationality of the users.